Finance

Concern as Uniswap-backed ‘DeFi Education Fund’ dumps $10M worth of UNI By Cointelegraph

Concern as Uniswap-backed ‘DeFi Education Fund’ dumps $10M worth of UNI

The controversial Uniswap-funded DeFi Education Fund has liquidated half of its donated funding into stablecoins, attracting condemnation from many in the crypto community.

On June 12, the fund tweeted that it was selling 500,000 UNI to Genesis Trading for 10.2 million USDC in an over-the-counter (OTC) trade, despite the Uniswap proposal for the fund indicating it would liquidate the 1 million UNI over four to five years.